Business
A warning for all ASX tech investors
It’s no secret that the place to be for S&P/ASX 200 Index (ASX: XJO) gains in 2021 so far has not been the ASX tech sector. Or any ASX shares that can be called a ‘growth share’ for that matter.
Former high flyers like Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) have spent the last month or so coming back to earth after recovering spectacularly from the lows of the coronavirus-induced market crash last year. Since 16 February, Zip shares have lost more than 46% of their value, whilst Afterpay is down more than 34% over the same period.
It’s not just these buy now, pay later (BNPL) companies that are suffering though. Xero Limited (ASX: XRO) is down almost 15% in 2021 so far. Altium Limited (ASX: ALU) is down nearly…
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